us budget deficit jumps 22 in october
Last Updated : GMT 03:09:26
Arab Today, arab today
Arab Today, arab today

US budget deficit jumps 22% in October

Arab Today, arab today

Arab Today, arab today US budget deficit jumps 22% in October

Washington - AFP

The US federal government\'s deficit rose sharply in October, casting a cloud over the start of the fiscal year as President Barack Obama and Congress tackle the coming \"fiscal cliff\" and ballooning debt. The Treasury Department reported the US budget deficit rose 22 percent in October from a year ago, to $120.0 billion, as spending far outpaced revenues. October, the first month of the federal government\'s fiscal year, typically runs a deficit. But the budget gap reported Tuesday was much wider than the consensus analyst estimate of $113.0 billion. Spending jumped 16 percent to $304.3 billion and revenues rose 13 percent to $184.3 billion last month, the Treasury said. In fiscal 2012 that ended on September 30, the Obama administration trimmed the budget deficit by some $200 billion to $1.1 trillion, or 7.0 percent of gross domestic product. For the current fiscal year, it aims to reduce the deficit to below $1.0 trillion for the first time in five years, following massive government outlays aimed at pulling the economy out of a severe 2008-2009 recession. The White House\'s target is a $991 billion deficit, or 6.1 percent of GDP. But the sustained deficit continues to push the country\'s debt load higher. The US debt currently stands at about $16.2 trillion, and continued borrowing needs to finance the budget shortfall will send the government past the fixed $16.39 trillion sometime in the final days of the year. The Treasury can manage at that level without increasing the ceiling into March by using accounting maneuvers, according to government officials. But at the same time politicians are battling over the so-called fiscal cliff package of extreme spending cuts and tax increases due January 1 unless politicians can reach a compromise to avoid them. While the measures would slash the deficit by $500 billion, economists warn they could tip the fragile economy back into recession.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

us budget deficit jumps 22 in october us budget deficit jumps 22 in october

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

us budget deficit jumps 22 in october us budget deficit jumps 22 in october

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today PNG police start removing refugees

GMT 03:00 2017 Friday ,24 November

PNG police start removing refugees
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today 'Trash islands' off Central America indicate

GMT 20:19 2017 Friday ,24 November

'Trash islands' off Central America indicate
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Solaf happy for participating in “Hotline”

GMT 07:56 2017 Wednesday ,22 November

Solaf happy for participating in “Hotline”
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 09:12 2017 Thursday ,23 November

4 in 10 cancers due to modifiable risk

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday